Solana ETF Debut: $116M Inflows, SOL Consolidates at $195
Solana ETF debut on US exchanges saw Bitwise’s Solana Staking ETF (BSOL) attract over $116M in net inflows and $72M in second-day trading volume, accounting for more than 90% of Solana ETF investments. Grayscale’s SOL ETF (GSOL) followed with modest flows, as combined AUM topped $430M and aggregate volume approached $80M. Despite strong institutional demand and up to 7% staking yield, SOL’s price peaked at $201.42 on launch before stabilizing near $195, reflecting short-term consolidation amid FOMC-driven de-risking. Technically, SOL trades between $188 and $204, with key resistance at $200–$207 and support at $188–$193; a decisive close above $200 could trigger a rally toward $210–$225, while a fall below $188 may retest $180. Fidelity’s removal of an SEC delaying amendment paves the way for automatic Solana ETF approval in 20 days, and upcoming launches from Canary, VanEck and 21Shares may inject fresh capital, echoing the momentum seen in earlier Bitcoin and Ethereum ETF rollouts.
Neutral
The debut of Solana ETF has generated substantial institutional capital inflows and impressive trading volumes, signaling robust investor interest. However, SOL’s price has not sustained its initial rally, instead consolidating below the critical $200 threshold amid broader market de-risking. This mixed outcome—strong demand countered by price stagnation—suggests a neutral short-term impact, as traders await clear technical confirmation. Over the long term, continued ETF inflows and forthcoming listings could provide a bullish catalyst, but the immediate market reaction remains balanced between potential upside and downside risks.